Pages

Thursday, March 31, 2011

The index improved from the third to the fourth quarter of 2010 (+2.3%). It was also up from the year prior (+1.0%).

The Portland-area economy saw the following (positive!) changes:

- Total nonfarm employment has seen gradual growth

- Initial unemployment claims were down

- Lodging revenues increased

- Sales of residential homes improved

The Lane County (Eugene) Index

The index improved from the third to the fourth quarter of 2010 (+3.5%), but it was unchanged from the prior year.

Lane County's economy saw the following (also positive!) changes:

- Total nonfarm employment has seen gradual growth

- Initial unemployment claims were down

- Lodging revenues increased

- Sales of residential homes improved

For both areas, economist Tim Duy pointed out that the economy is improving and national data indicates growth is likely to continue this year. But he cautions that "the recent rise in commodity prices, particularly oil, is a cloud on the outlook. Price gains to date are likely to restrain the pace of recovery but not trigger a recession. Further rapid gains, however, would pose a greater challenge."

About our Blog!

Welcome to the Oregon Employment blog, brought to you by the Research Division of the Oregon Employment Department. We love studying the economy, helping the public, and using numbers all day long! Feel free to ask questions and leave comments because we're here to help!